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Economic Times
2 hours ago
- Economic Times
JSW Cement cuts IPO size to Rs 3,600 cr; public offer to open on August 7
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel JSW Cement, part of Sajjan Jindal-promoted diversified JSW Group , is set to launch its truncated Rs 3,600-crore initial public offering (IPO) on August total size of the issue, however, is lower than the earlier proposed issue of up to Rs 4,000 crore, according to the latest RHP ..The IPO will open for public subscription on August 7 and closes on August 11, while the anchor investor bidding date would be August 6 for JSW Cement, according to the Red Herring Prospectus (RHP) filed on initial share sale comprises a fresh issue of equity shares worth Rs 1,600 crore and an Offer for Sale of shares worth up to Rs 2,000 crore by investor a part of the OFS, private equity giant Apollo Management , through its affiliate AP Asia Opportunistic Holdings Pte Ltd, will be offloading shares worth Rs 931.80 crore, Synergy Metals Investments Holding Ltd will sell shares worth Rs 938.50 crore, and State Bank of India ( SBI ) will divest shares valued at Rs 129.70 Metals Investments Holding is an arm of Synergy Metals and Mining Fund, a private equity fund set up by a former executive of steelmaker ArcelorMittal, Sudhir Maheshwari, in per draft papers, the company will utilise proceeds worth Rs 800 crore to part-finance a new integrated cement unit at Nagaur, Rajasthan, and Rs 520 crore on prepayment or repayment of outstanding borrowings availed by it. The rest would be used for general corporate Mumbai-based company had earlier planned to raise Rs 4,000 crore. At the time of filing papers, JSW Cement said it intended to raise Rs 2,000 crore from a fresh issue of equity shares and an offer for sale (OFS) of Rs 2,000 crore by investor the size of the fresh capital-raising has been cut by Rs 400 crore from the fresh issue, as per the latest August 2024, JSW Cement filed preliminary IPO papers with Sebi, and later in September, the regulator kept the company's proposed initial share-sale on hold. On January 6, this year, the regulator finally gave its observation to float the of March 31, 2025, JSW Cement's total borrowings stood at Rs 6,166.6 the financial front, the company's revenue from operations for FY25 stood at Rs 5,813.1 crore against Rs 6,028.10 crore in FY24, and Rs 5,836.72 crore in company reported a loss of Rs 163.77 crore in FY25. Its profit was Rs 62 crore in FY24 and Rs 104 crore in of March 31, 2025, JSW Cement had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA).According to the CRISIL report, JSW Cement is India's largest manufacturer of ground granulated blast furnace slag (GGBS), an eco-friendly product produced entirely from blast furnace slag (a by-product of the steel manufacturing process), with a market share in terms of GGBS sales of 84 per cent in company presently operates manufacturing operations at units based at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Cement through its subsidiary Shiva Cement operates a clinker unit in Odisha. Axis Capital Ltd , Citigroup Global Markets India Pvt Ltd, DAM Capital Advisors Ltd , Goldman Sachs (India) Securities Pvt Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are responsible for managing the company's IPO company's shares will be listed on the BSE and NSE. PTI
Economic Times
3 hours ago
- Economic Times
Tariff uncertainty to keep markets on edge; healthcare seen as safer bet: Rajesh Palviya
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Time of India
5 hours ago
- Time of India
Want to invest Rs 1 lakh when you are young? Here is Raamdeo Agrawal's Warren Buffett-style blueprint to compound wealth
At 30, pick a lane: Professional or Passive? Live Events Everybody knows the price, nobody knows the value India and the U.S. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel If you're 20 years old and sitting on Rs 1 lakh, Motilal Oswal co-founder Raamdeo Agrawal has one piece of advice: don't do anything till you understand it. That, he says, is among the best lessons he's learned from Warren Buffett, and it applies to both investing and a conversation on Groww's investor podcast released on YouTube, the Motilal Oswal Financial Services co-founder urged young investors to resist the pressure to act without clarity. Agrawal said most 20-year-olds underestimate how little they know about the market. 'At the age of 20, what you don't know is a lot of things… So when you see value–price gap, you will have a, what do you call, limited understanding of it.'He recalled his own investing debut, a hostel tip-off that turned into a three-bagger. 'I bought it 15 bucks, and in a year, two years' time, it became 45 bucks,' he said, noting he was around 22 at the time. 'Those kinds of breaks will happen.'Asked where Rs 1 lakh should go at 30, Agrawal said it depends on whether you want to master the game or outsource it.'If I want to make a career in investing… then you should go to the stock market and figure out what is the value, what is the price, what is the earnings growth, what is the RoE, what is the momentum. I mean, it's a full-time job, and it has become very competitive.'Otherwise, 'go and give your money to one of the fund managers and be happy with it.'Agrawal didn't hold back on what he sees as the pitfalls of post-COVID market behaviour. 'Out of 200 million demat accounts, 160 million is less than 5 years… they have no clue what they are buying and selling... (post COVID)… market is very impatient,' he stressed that understanding intrinsic value is the core skill. 'Everybody knows the price. Nobody knows the value. Once you master the formula to discover value, investing becomes simple.'And the real reward, he added, lies in spotting mispriced opportunity. 'Is the return gap between price and value… is it asymmetric? We are looking for asymmetric... Asymmetricity in the return — that's the excitement in the market.'Agrawal dismissed market timing as a flawed strategy. 'Not buying at the bottom is a crime if at all you are trying to time the market,' he said. 'By the time you muster the courage to enter, you've already missed 40% of the upmove.'He advised investors to look beyond narrative and into balance sheets. 'I go straight to 23 financial ratios,' he said. 'If two companies are equally profitable, but one collects its dues in 10 days while the other takes 90 days, the difference is huge.'Despite growing global uncertainty, Agrawal believes India is one of the only two countries in the world, alongside the United States, where macroeconomic growth consistently flows into long-term equity returns. 'There are 170 markets, but only these two allow for extrapolation of economic growth into stock performance,' he said.'India,' he said, 'is more predictable than the U.S.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
